Adient (NYSE:ADNT) Sees Significant Decrease in Short Interest

Adient (NYSE:ADNT) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 5,568,875 shares, a drop of 17.5% from the February 12th total of 6,746,867 shares. Based on an average daily trading volume, of 763,350 shares, the days-to-cover ratio is presently 7.3 days. Currently, 7.2% of the company’s stock are sold short. Currently, 7.2% of the company’s stock are sold short. Based on an average daily trading volume, of 763,350 shares, the days-to-cover ratio is presently 7.3 days.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADNT shares. Citigroup upped their price objective on Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Barclays increased their price target on Adient from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Stifel Nicolaus lifted their target price on Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.67.

Adient Price Performance

ADNT opened at $20.05 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17. Adient has a 1 year low of $10.04 and a 1 year high of $27.32. The stock has a fifty day moving average price of $22.89 and a 200 day moving average price of $22.14. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -5.54, a PEG ratio of 0.43 and a beta of 1.56.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.19 by $0.16. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Several large investors have recently made changes to their positions in ADNT. Hantz Financial Services Inc. increased its position in Adient by 62.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after buying an additional 439 shares during the period. Leonteq Securities AG bought a new position in Adient during the fourth quarter worth $30,000. Quarry LP raised its stake in Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Adient in the 2nd quarter valued at $63,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Adient in the 4th quarter worth $64,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.